For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Rupee gains against US dollar

|
Rupee gains against US dollar
The partially convertible Indian rupee gained 14 paise on Wednesday against dollar on the Interbank Foreign Exchange due to sustained selling of the US currency by exporters and banks.
 

However, negative trend seen in domestic market constrained the further rise in rupee.

The Indian rupee opened at 54.15 per dollar versus 54.18 on Tuesday. At 11.10 am IST rupee was seen trading flat at 54.14.

Strengthening of euro against the dollar overseas also supported the local currency, forex dealers said.

Rupee generally follow the footsteps of Euro, if euro is rising against the dollar, same trend can be visible in the Indian currency as well.

Weak rupee will put more pressure on the oil bill which will widen up. High oil import bill will further widen the gap between the imports and exports and thus raising trade deficit.

Meanwhile, the BSE was seen trading lower at lower by 54 points and the 50-share NSE was at down by 21 points.

GoodReturns.in

Read more about: dollar currency euro
Story first published: Wednesday, March 13, 2013, 11:15 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more